Remodeled San Francisco Chronicle Building Undergoes Transformation into Residential and Fractional Units
Thursday, June 15, 2006
The first steel-frame skyscraper in San Francisco, the Chronicle Building will house 52 residential condo units and 49 fractionals.
The Ritz-Carlton Club, a timeshare division of the well-respected hotels, announced Monday that it has accepted “sales reservations” totalling $106 million USD for fractional condos in downtown San Francisco. The location is the former Chronicle building at 690 Market Street.
Originally built in 1889, the landmark piece of architectural history started life with a brick face and was famous for being the first steel-frame skyscraper in San Francisco. During the 1960s it was “modernized” with steel panels which covered its surface. But about a year ago, those shiny coverings were removed to reveal its intended classic exterior. Eight floors have been added as part of the extensive $90 million project to transform the building into fractionals, otherwise known as luxury timeshares.
Local preservationists are enthusiastic about the transformation of the former headquarters of the San Francisco Chronicle. The building has survived numerous earthquakes, including the devastating 1906 quake which leveled most of the city.
Welcome back, beautiful building!
And welcome home to those who will reside in the 52 residences and 49 fractionals. Currently there are 57 interested buyers for the fractionals, which start at $200,000 for a one-twelfth share of a unit, and there are 45 interested buyers for the traditional condos which range from $1.2 million to $5 million.